US EditionJustice Decreed the Bankruptcy of the Sancor Dairy
17 Articles
17 Articles
Justice declared the bankruptcy of the SanCor dairy cooperative this morning after the firm itself, last week, requested that measure after recognizing it would be difficult to resolve its situation in the context of the creditor contest.The bankruptcy measure was dictated by the judge of the case, Marcelo Gelcich.The cooperative, which faces a debt of about US$120 million, admitted that it was not in a position to face its debt or to formulate …
The firm carries a liability close to USD 120 million and had applied for bankruptcy when faced with the impossibility of complying with a payment plan that settles the debts found with more than 1,500 creditors.
The dairy chain, the agroindustry in general and the Argentine society as a whole lament for these hours a news that hurts because of its impact not only economic, but because of its relevance in the national historical memory: the Justice of Santa Fe formally declared this Wednesday the bankruptcy of Sancor Cooperatives United Limited. It is a request that had been made by the Board of Directors of Sancor, not being able to find a way to obtain…
Santa Fe Justice resolved this Wednesday the bankruptcy of Sancor, one of the most recognized companies in the national dairy sector, that failed to reverse a crisis that spread over the last two decades.
A dairy industry giant in crisis. The measure had been requested by the company itself last week, due to its inability to meet its obligations. The Santa Fe court declared the bankruptcy of the dairy cooperative SanCor, after the company itself requested this measure following years of financial crisis and the failure of the creditors' reorganization plan filed last year. The dairy cooperative has accumulated a debt of USD 120 million, and given…
The court decreed the bankruptcy of SanCor, the dairy cooperative, after the request of the firm itself before the impossibility of dealing with the economic debts. The decision was dictated by the judge in charge of the case, Marcelo Gelcich, belonging to the Civil and Commercial Court of the 4th. Nomination of the Santafesina city of Rafaela. “The company does not result financially ...
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